Posted on 12/04/2014 3:49:47 PM PST by jazusamo
Fiscal Policy: A city teetering on the brink of insolvency passes a minimum wage that would reach $13 by 2019, higher than the minimum elsewhere in a state that just elected a Republican governor. What could go wrong?
Ignoring the first rule of holes (when you're in one, stop digging), the Chicago City Council, in a Tuesday emergency session called by Mayor and former White House chief of staff Rahm Emanuel, voted 44-5 to raise the city's minimum wage from the current statewide level of $8.25 an hour to $10 on July 1, with future increases bringing it to $13 by 2019. After that, it will be pegged to inflation.
What's the emergency? Emanuel wanted to jump the gun on any minimum-wage bill that might come out of the state legislature in Springfield, particularly after the election of Republican Bruce Rauner as governor. Such legislation is said to bar cities from raising their minimums above the state's. Rauner has said that any minimum-wage increases should be part of a package that promotes growth without reducing competitiveness.
"Raising the minimum wage doesn't help somebody (who is) unemployed, and it doesn't help somebody who's employed and who could get unemployed because of the lack of competitiveness that raising the minimum wage could engender," Rauner said.
(Excerpt) Read more at news.investors.com ...
Minimum Wage Ping
Every time some idiot Northerner pulls this kind of crap we get another 400K people here. Knock it off!!
MINIMUM WAGEPING
Chi sucks ping
“Alds. Matthew O’Shea, 19th; Mary O’Connor, 41st; Brendan Reilly, 42nd; Michele Smith, 43rd; and Tom Tunney, 44th, voted against the measure, saying they believed a higher wage could damage business profits, raise unemployment and put a dent in city tax revenues.”
Turn up the gain of a PA system, and you get uncontrolled squeal.
"Pegged to" are not the words needed here.
CAUSING MORE is correct.
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